Finance Act 1999

Part IV U.K. General exemptions

24 U.K. The following are exempt from stamp duty under this Schedule—

(a) transfers of shares in the government or parliamentary stocks or funds or strips (within the meaning of section 47 of the M1 Finance Act 1942) of such stocks or funds;

(b) instruments for the sale, transfer, or other disposition (absolutely or otherwise) of any ship or vessel, or any part, interest, share or property of or in a ship or vessel;

(c) testaments, testamentary instruments and dispositionsmortis causa in Scotland;

(d) renounceable letters of allotment, letters of rights or other similar instruments where the rights under the letter or other instrument are renounceable not later than six months after its issue.

Marginal Citations

M1 1942 c.21.

25 U.K. Stamp duty is not chargeable under this Schedule on any description of instrument in respect of which duty was abolished by—

(a) section 64 of the M2 Finance Act 1971 or section 5 of the M3 Finance Act (Northern Ireland) 1971 (abolition of duty on mortgages, bonds, debentures etc.), or

(b) section 173 of the M4 Finance Act 1989 (life insurance policies and superannuation annuities).

Marginal Citations

M2 1971 c.68.

M3 1971 c.27(N.I.).

M4 1989 c.26.

26 U.K. Nothing in this Schedule affects any other enactment conferring exemption or relief from stamp duty.